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KEC International Ltd. v. Dy. CIT (2021) 88 ITR 246 (Mum.)(Trib.)

S. 28 (i) : Business loss-Foreign exchange losses-Marked-to-market losses on hedging contracts-Allowable as deduction-Tribunal admitted additional grounds. [S. 37(1)]

Held that  Marked-to-market losses on hedging contracts. Allowable as deduction.  Tribunal admitted additional grounds. (AY. 2012-13)